Tmall releases 2024 store opening report, with new businesses increasing by 83% year-on-year.

On January 7, Tmall released the 2024 Annual Merchant Store Opening Report. In 2024, the number of new merchants joining Tmall increased by 83% compared to the previous year. Within one year of joining Tmall, 32 brands achieved sales exceeding a billion, 733 brands achieved annual sales exceeding tens of millions, and 1600 brands achieved annual sales exceeding five million. In terms of categories, mobile accessories, snacks, cycling gear, cups and tea sets, condiments, trendy toys, bags, down jackets, home storage, and new Chinese-style clothing became the top ten popular categories in 2024, with the highest number of store openings. Nowadays, phone cases have become the "must-have accessory" for young people. Since 2024, over 9,000 phone case and accessory brands have created a new category with a market size exceeding a hundred billion on Tmall. In the past year, brands like CASETiFY achieved sales exceeding a billion, while brands like Tulass, Aesdo, X-IT, and PITAKA broke the tens of millions mark in sales. "2024 is the year of cycling", from January to August, the sales of cycling products on Tmall increased by 77.8% compared to the previous year. Eight brands achieved sales exceeding a billion. Among them, bicycles, cycling clothing, cycling shoes, cycling helmets, and cycling glasses were the top five categories in the cycling economy in terms of sales growth. The top ten "dark horse" brands on Tmall in 2024, which became category champions within one year of opening their stores, have been announced. Brands such as Banjue Jewelry, Chantecaille, HEXKIN, Mmlg, Rapha, Zhi Zaozi, Ji Yi Kawa, Shiyesheng, Fino, and Cold Element ranked first in multiple trending categories such as jewelry, makeup, skincare, cycling, fitness equipment, hair care, and winter sports. Rapha, a cycling apparel brand, entered the Chinese market in 2024, with its first stop being on Tmall. After opening its flagship store on Tmall in April, it quickly gained popularity and became the number one professional cycling apparel brand during the Singles' Day sales event. In August 2024, skincare brand HEXKIN opened its flagship store on Tmall as a "dark horse" brand. The brand's representative stated that Tmall, as a core platform for all online users, enables direct access to customers. Based on understanding customer needs, HEXKIN's first Singles' Day event on Tmall achieved explosive growth in both users and sales, making it the champion of new skincare brands. The trendy toy brand Ji Yi Kawa entered Tmall in September 2024 and became the first official retail channel in Mainland China. On the opening day, the store's fan base quickly grew to nearly 200,000, with over 300,000 simultaneous searches within the app. The first-day sales exceeded five million, making it the top new brand in the second-hand market in 2024. In terms of regions, the Pearl River Delta region continued to lead in entrepreneurial vitality in 2024 with Guangzhou ranking as the top city for brand entrepreneurship. Among the new stores opened on Tmall in 2024, over 12,000 were registered in Guangzhou. Apart from Guangzhou, cities like Shenzhen, Jinhua, Quanzhou, Xuzhou, Wenzhou, Zhengzhou, Dongguan, Xiamen, and Foshan were the top ten cities with the highest number of new store openings on Tmall in 2024. It is worth mentioning that compared to 2023, cities like Quanzhou and Zhengzhou saw an increase in brand creation vitality and were newly included in the top ten cities for brand creation in 2024. Representative new brands like World Beyond from Guangzhou, VKOK from Shenzhen, and YEVA from Dongguan, all achieved sales exceeding five million within less than a year of opening a store on Tmall. To support new merchants in achieving rapid growth, breaking through sales barriers, Tmall continues to upgrade its "Blue Star Plan" for new merchants. It provides 15 incentives including limited-time deposit waivers, free use of "Business Advisor," incentives of up to 2.5 million for a single merchant, and setting up exclusive traffic channels for new merchants. During the 2025 Tmall New Year Goods Festival, searching for "Tmall New Merchant Festival" on the Taobao App will allow access to the new merchant venue.